Blue Bird Reports Fiscal 2022 Second Quarter Results; Focused on Electric Vehicle Growth and Process Improvement; Challenging Business Environment; Revising FY2022 Guidance

About this update from Blue Bird Corporation

[{"type":"text","content":"\nNet Sales of $207.7M and GAAP Net Loss of $12.1M;\nFirm Order Backlog of Record 6,600+ units;\nElectric Type C & D Bus Backlog of nearly 360 units;\nAdjusted EBITDA of $(10.7)M with 1,931 Buses Sold\n\n MACON, Ga.--(BUSINESS WIRE)--\nBlue Bird Corporation (“Blue Bird”) (Nasdaq: BLBD), the leader in electric and low-emission school buses, announced today its fiscal 2022 second quarter results. GAAP net loss for the quarter of $12.1 million was $11.5 million higher than the same FY2021 fiscal period. Adjusted EBITDA for the quarter was $(10.7) million, $18.2 million below prior year level. Order backlog remains strong at a record 6,600 buses, worth approximately $700 million.\n\n\n \n\n\n\nHighlights\n\n\n\n\n\n\n\n\n\n\n\n \n\n\n\n(in millions except Unit Sales and EPS data)\n\n\n\nThree Months Ended\nApril 2, 2022\n\n\n\n \n\n\n\nB/(W)\n2021\n\n\n\n \n\n\n\nSix Months Ended\nApril 2, 2022\n\n\n\n \n\n\n\nB/(W)\n2021\n\n\n\n\n\nUnit Sales\n\n\n\n \n\n\n\n1,931\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n442\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n3,080\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n336\n\n\n\n \n\n\n\n\n\nGAAP Measures:\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\nRevenue\n\n\n\n$\n\n\n\n207.7\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n43.0\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n336.9\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n41.8\n\n\n\n \n\n\n\n\n\nNet Income\n\n\n\n$\n\n\n\n(12.1\n\n\n\n)\n\n\n\n \n\n\n\n$\n\n\n\n(11.5\n\n\n\n)\n\n\n\n \n\n\n\n$\n\n\n\n(16.2\n\n\n\n)\n\n\n\n \n\n\n\n$\n\n\n\n(14.0\n\n\n\n)\n\n\n\n\n\nDiluted Earnings per Share\n\n\n\n$\n\n\n\n(0.38\n\n\n\n)\n\n\n\n \n\n\n\n$\n\n\n\n(0.36\n\n\n\n)\n\n\n\n \n\n\n\n$\n\n\n\n(0.54\n\n\n\n)\n\n\n\n \n\n\n\n$\n\n\n\n(0.46\n\n\n\n)\n\n\n\n\n\nNon-GAAP Measures1:\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\nAdjusted EBITDA\n\n\n\n$\n\n\n\n(10.7\n\n\n\n)\n\n\n\n \n\n\n\n$\n\n\n\n(18.2\n\n\n\n)\n\n\n\n \n\n\n\n$\n\n\n\n(7.1\n\n\n\n)\n\n\n\n \n\n\n\n$\n\n\n\n(20.4\n\n\n\n)\n\n\n\n\n\nAdjusted Net Loss\n\n\n\n$\n\n\n\n(10.1\n\n\n\n)\n\n\n\n \n\n\n\n$\n\n\n\n(11.5\n\n\n\n)\n\n\n\n \n\n\n\n$\n\n\n\n(12.1\n\n\n\n)\n\n\n\n \n\n\n\n$\n\n\n\n(13.6\n\n\n\n)\n\n\n\n\n\nAdjusted Diluted Loss per Share\n\n\n\n$\n\n\n\n(0.31\n\n\n\n)\n\n\n\n \n\n\n\n$\n\n\n\n(0.36\n\n\n\n)\n\n\n\n \n\n\n\n$\n\n\n\n(0.40\n\n\n\n)\n\n\n\n \n\n\n\n$\n\n\n\n(0.45\n\n\n\n)\n\n\n...

More updates from Blue Bird Corporation